New Delhi, 16th November 2024 – Finkeda, a one-stop destination for digital banking and financial services, proudly announces a milestone achievement with over 36,000+ registered merchants across India, extending essential banking services to underserved rural and remote communities. Founded in 2019, Finkeda aims to simplify banking access for individuals in smaller towns and villages, where basic financial services are often hard to reach.
Through partnerships with local merchants, Finkeda has transformed neighbourhood shops into mini-banking hubs offering vital services such as money transfers, Aadhaar-enabled banking, micro-ATM withdrawals, utility bill payments, and travel ticketing. This approach reduces the need for long-distance travel, allowing residents to manage their finances within their communities.
With over 893,395 transactions processed monthly, Finkeda is bridging the financial service gap in India’s underserved regions. Through Aadhaar-enabled banking, residents gain secure access to Aadhaar Pay, balance inquiries, and mini statements. Micro ATMs facilitate cash withdrawals in areas with limited ATM access, while utility payments simplify bill handling and mobile recharges. Insurance and PAN services make motor insurance applications and PAN card registrations convenient, while travel ticketing options support local access to bus, flight, and hotel bookings. These services empower local merchants as financial hubs, enhancing accessibility and convenience for residents.
Finkeda’s model not only supports end-users but also creates new income streams for local merchants, positioning them as trusted financial service providers within their communities. This model fosters both convenience and trust, establishing merchants as essential figures within the local financial ecosystem.
Commenting on the same belief, Mr. Manish Kumar Goyal, Director, Chairman, and Managing Director, said, “Finkeda is a movement toward economic empowerment. By bringing financial services to the local level, we’re creating opportunities and enabling convenience for people in rural areas, helping them manage their finances independently.”
Focused on rural India, Finkeda operates on a B2B model, generating revenue through commission-based income, ensuring benefits for local merchants while providing essential services to communities. Looking ahead, Finkeda is dedicated to further expanding its reach, bridging the financial access gap in remote areas across India, and striving to ensure that every Indian has easy access to basic financial services, regardless of location.
